Bonuses are not subject to claw back specifically they removed if the company collapses well the problem is and ive said this before the british character views that type of fraud as quote unquote clever ninety nine percent of the British Population have president of the fact that theyve had their wallet stolen and beaten about the head by fraudsters will say theyre so clever how do i get into. How do i steal money like this right they dont see this shortcoming they see this as the british character is right up there with barbara in a bulldogs is theft so theres no outrage against it because there would be an outrage against the queen and the flag first of all the second of all theyre going to have an inquiry to decide whether or not to have an inquest whether to form a committee whether to explore the possibility if in fact there needs to be a discussion about possibly prosecuting the alleged crime and that will go on for so. Right years the statute of limitations expire and the clever robbers will you know run away and i want to say. Your clever little thieves we love you because youre so british you want to put the marmite uppers french frankenstein like a canary because youre a fricken idiot. Ok well again im going to read you this how the home quotes because its quite important to understand the. You know the scale of what it has been don. And how. You know the language is and how to get out clauses are already in there so this guy roger barker hes the head of Corporate Governance at the institute of directors said that the collapse of the company suggest that Effective Governance was lacking at corralling them yeah that we must now consider if the board and shareholders have exercised appropriate oversight prior to the collapse i want to make a point about this is that the share price has been falling steadily since twenty fifteen and then it really started to crash in two thousand and sixteen and plunge this summer so who is short thats the whole time who is making money the whole time i guess max tell me who george just more no no no it was hedge funds hedge funds are shorting this they figured it out they knew it despite hedge funds shorting wildly it was the the most the most shorted stock in all of europe ok so how did the government not know how did in that condition the government continued to give them billions of pounds of new contracts because theyre corrupt because its a Constitutional Monarchy where there are no citizens there are only subjects of the crown and they wanted this to del boy economy you know member the show fools who are fools who are only whores only fools and horses only fools and horses where the that they hero is a schemer you know this is just on an epic multibillion dollar skill thats the national character. Thats Churchillian Churchill was a school schemer you know easy easy easy easy awful guy and they make these great movies about him but hes a club the crowd. Well thats it for this half of that chis report stay tuned for the second half a whole lot more in the state just in a second how much more. Clear. Cut a walk to sell you on the idea that dropping bombs brings police to the going to mark forcing you to fight the battles they believe produce offspring to tell you that the greek goddess of the public but i felt a little more use a day. Off of advertising telling me you are not cool enough to buy their product please. Leave all the hawks to me along the border good luck. Welcome back to the kaiser report imax kaiser initial Coin Offering you know i dont think weve actually talked about this is going off on this show well lets get into right now arie you see the chief operating officer of storm token ery welcome thanks for having me what a pleasure to have you on im hearing great things about storm x. And the storm token so that a successful initial point offering in twenty seventeen tell us about the storm. And game of five micro tasks what is it yeah so weve been in market for about three years originally under the name bit maker with just im told can we rebranded a storm play were on the Android App Store and basically were trying out different products and Services Like hulu games the whole final fantasy who where you get paid in crypto whether its a big and now storm took it into the subtle bit more subtle game of five micro tasks and tokens and im earning tokens gaming all worked through that a little bit more for me and for the audience what does that mean so were a marketplace so from the user perspective i get paid terry were pick winter storm were trying out different products and services so thats a user perspective. And we came off i the experience of that. You sort of have this like journey so step one download the app stop to create a profile and each time you get paid say a dollar and then when you hit the final goal of trying out hulu for thirty days well pay you fifteen dollars in the theory and. So if im on a social networking site like that and im putting up content all the time i never get paid if im working with stone tokens and im interacting out there im getting paid youre going to pay for my interaction micro tasks so youre. Are you disrupting are you just something social Networks First of all were disrupting the way advertising works so from the other side of the marketplace theres advertisers pay for clicks and likes and downloads but if youre a store owner you want actually people to come into your restaurant try an appetizer and you know give you a real try likes and insults dont really do that and so we thought hey now Business Owner who what if instead of paying facebook or google for fifteen dollars of clicks and likes give us the fifteen dollars and well give it back to these or to actually try your product Everybody Wins all right so. The oh yes so the crew thats a pretty so youre up there on the c. Suite so to speak and. So youre not the chief Technology Officer you know the chief executive officer or the chief Operations Officer just for thirty seconds kind of break down what it does with the i. C. s startup so my responsibilities are the day to day operations of the company it literally is everything and whether its resourcing systems processes payroll whatever it could be im responsible to make sure that day to day were executing right so this is a very you know this is a heavy its a variance and all kind of false facts you know and also if a lot of ways i understand of this is rolling out of it in a fantastically successful lets talk about i say. For those who are uninitiated what is a nice to go so i. C. A. O. Stands for initial Coin Offering from our perspective its more of a crowd sale so sort of like kickstarter and crowdfunding the world the masses you support projects that you really believe in you put in a dollar you put one hundred dollars whatever it may be and you get a token that says im a believer in the store and coke and project i believe in every day micro tasks people being put in anywhere any time a device so whats the controversy with additional point offerings because. Its not equity. Right its not regulated some would argue by equity regulators. But then again its not. Theres a theres threshold in the ice you know market where it has to have a utility value and how cognizant of you are are you to make sure fulfills that role it doesnt fulfill that role and how does it fill that role. Very significantly you know where this is something that we think about all day and all night for us where utility took and theres two kinds of tokens right theres the security tokens where you actually are investment. Into that company where utility token because we already had a product where the token was immediately utilized usable within our system and that those those are the basic thresholds ok that utility not not to you cant but those freak out of school or anything but i guess you know i just sent my following question so yes you see clearly theyre on all their on this like you know. You know so so how much dialogue if any or do you have to do are you do you have dialogue with them or how does that work that relationship because theyre clearly theyre looking at this very closely yes theyre looking at this very closely because with anything with this much attention and this much impacts globally you want there are going to be some bad actors right for us we dont have any direct contact with the f. C. C. But we do pay for a very expensive partners you know the perkins kui firms and into lloyds who actually do have contacts with c. C. And are working very closely with us to make sure where were going to step in where being very above bar above board but of course i guss lord in how we execute and operate the company yes you see seems like there are looking to encourage innovation i think stage of the game they dont they seem like theyre really trying to sort through all the players of this and try to warn folks when they see an obvious. Bad actor there theyre trying to encourage folks that are doing it doing what they would perceive to be innovative things and the money raised on this you know youre not going through the v. C. Route and who might take equity so this is just cash how much money does race let me ask so we raised it and decide where two thousand and seventeen and we sold about thirty two Million Dollars u. S. D. Worth of strong pickens ok and so. Hows your market for the spend of the next couple of years what are you looking to do so right now its really starting up the team we went from a humble team three four very scrappy entrepreneurs now were bringing in you know very expensive chief of staff we would take technology or were bringing in someone to really lead and to find a future where our products are going to be engineers who can do a lot of the heavy lifting and so really raising the bar on our team so that we can execute really fast and then not make the mistakes and you know we engineer it so bringing in the old with the new all right so bringing in some senior folks to try it so when you wake up in the morning and you head off to the center pod or the office or the you know wherever the all i or i or you look at it so were working out of Seattle Washington right and its basically two rows of thats where we work side by side our little laptops all day long oh so what what what what do you what motivates you about this project i mean when i said game applied micro i mean i can see that this is kind of like a glimmer in your eye you really believe in this right so yeah tell us what your what is your passion about this because you know your passion is whats going to make this project you and your your colleagues what is it that really gets you excited it really is the idea of earth anywhere anytime from anybody with micro tasking technology we can actually really. Its a normalized i dont thats a good word. Normalise how we are really a global nation so my my story of i often tell is on timbuktu maybe she earns twenty cents a day and thats her living but with Machine Learning costs where she identifies one hundred oranges in photos a day she can earn a dollar a day so we can significantly increase her standard of living she can easily turn around and teach uncle to do i wonder photos of oranges today so now theyve doubled more than doubled their income for the family they can teach your entire community their churches whatever their it is its a whole communities globally can rise thanks to my corrections actions most aware additional transactions to date are not built for transactions under five dollars and thats where block chain and the storm token particularly is built for micro transactions so we hear about the claim a lot of fees now that are transactions are not happening to some degree soaks or getting it just saying hey come to us we got they were better for payments etc but youre really specializing that five dollars under not specializing but you have a sweet spot there i guess you could say so. The folks that are around the world that were this could make a substantial difference to their lives right because people are living on a dollar a day five dollars a day ten dollars an hour theyre very low income people and and if they have access like nations in africa for example have phones and things where you see growth in this work countries are growing up with this it really is more of the developing nations we are very popular in the philippines thailand indonesia of course mexico brazil but we actually have a very strong u. S. Population as well so its its its literally quote one hundred eighty some countries right and now some like crypto in general so the Crypto Market you know we got very frothy twenty seventeen twenty thousand of it going the whole market one hundred eight hundred billion eight hundred twenty billion we had a serious correction i guess you could call it you know back to fifty percent some of the smaller points. How does that impact your business if at all. It impacts us because our communities really care and it really impacts them but overall as a company were here for the long game versus the you know the the bumps its going to be a bumpy ride theres still a lot to be figured out about krypto and tokens and and block chains in general our Business Model was already fixed we were already a growing company our own is actually double from last year so. If we continue to focus on the numbers that really do matter versus the short term ups and downs of the token and all of. That thats the banks around the token yanks i dont think there were just token. Centered mostly i think its you know theres a lot of new people coming into crypto and they see them outside of what could market cap nearly. You know its ok its ok so youre vice chill yeah long game versus short game theres a lot of things that need to be figured out a theory im sort of like dial up in you know fourteen point four kill a way dial up. The internet there are still some things that need to be figured out but it will. Be fair to say are you. Im on the borderline after life coming after i am one because so i am one hundred seventy nine formally im neither millennial nor gen x. Im. Sorry and so we hear that this generation is now accepting crypto as really they are theyve growing up i can. Understand that banks are inferior in many ways and they are opting for their living just like people have become you know smartphone from you. Know what about that is that true what you see that in that regard its its a whole nother way of living i mean you go out to lunch and you bend mo where you know. Jacks wallet somebody you know a payment and youre done thats it its very fast and simple. And banks are seen as dinosaurs. Thats not really part of the necessary day to day life theyre being distant immediate theyre being destroyed now you dont have to go drive to the bank to make your deposit or pick up checks anymore like you know we did in the eightys now its. Done with crypto theres an idea that you are owning sound money you are saving money in a way and thats very different than the generations weve just experienced end up going deep deep into debt. Already is your perception of money big philosophical question but is your perception of money is that you think different with crypto versus lets say the outlay us dollars and that bad rush to use credit cards and go into debt is there any generational thought about that i think the Younger Generation say the millennial Generation Cares more about experiences that like the consumer he i need to have stuff so thats a little bit different and then juanita fish and see. Valuing time very differently to how we work and live its a box on the lottery every you chief operating officer of storm token thanks so much thanks but thats going to do it for this edition of the kaiser report with me max kaiser stay here would like to thank our guests terry you oh still to look at if you want to catch us on twitter its kaiser report. With manufacturing sentenced to public will. When the really close is protect them so. The financial merry go round the sun be the one percent told. To ignore middle of the room sick. Of the real news for. A month and i will. Be i. D. D. The man didnt believe in it did it look. To. Him that i dont know much about. The u. S. Secretary of state claims russia is ultimately responsible for the Chemical Attacks that have taken place in syria since moscow intervened in the conflict regardless of. Protests. Against the gathering of the rich and powerful of the World Economic forum in davos where donald trump is expected to make an appearance later this week. The u. S. Government confirms that several americans were among the twenty People Killed in the assault on a hotel in the afghan count. From around the world this hour welcome to our two international your company our top story the u. S. Secretary of state has said the blame for a chemical attack in syria since russias intervention in twenty fifteen lies with moscow regardless of who was behind the. Whoever conducted the. Rusher ultimately burrs responsibility for the victims and the. Countless other serious targeted with chemical weapons since russia became involved in syria theres almost no Information Available all of these reports are coming from twitter from various sources the White Helmets for example whose leader was banned by the entry into the United States because of his ties to extremists whose members are actors body baggers and the al qaeda executions and who operate exclusively in easily missed areas areas of syria held by hardcore islamists these reports have been echoed by the syrian observatory of human rights which is also being called pro opposition but as for the facts the information were seeing is a bunch of metal canisters metal canisters that reportedly targeted Eastern Ghouta just just east of the capital damascus and there are reports of two dozen people injured according to all of these activists theres no actual footage of these bombs and chlorine gas ive seen during gas used back in the battle of aleppo it leaves behind a huge greenish cloud and it isnt difficult you know to take it to take a picture which would which would say a lot more but theres theres no pictures theres just pictures of emp